v3.7.0.1
CONDENSED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 33 $ 547
Receivable for sale of preferred stock 10
Prepaid expenses 132 112
Total current assets 175 659
Office equipment, net of accumulated depreciation of $1 and $0 6 4
Intangible assets, net of accumulated amortization of $149 and $144 63 68
Other assets 3 3
Total assets 247 734
Current liabilities:    
Accounts payable 1,330 1,238
Accrued expenses 436 384
Derivative liability 2,419 2,541
Total current liabilities 4,185 4,163
Total liabilities 4,185 4,163
Commitments and contingencies (Note 7)
Stockholders' deficit:    
Convertible preferred stock, par value $.0001 per share; 30,000,000 shares authorized, 2,957 and 2,828 shares issued and outstanding, respectively
Common stock, par value $.0001 per share; 150,000,000 shares authorized, 1,532,417 and 1,398,832 shares issued and outstanding, respectively
Additional paid-in capital 45,541 45,391
Accumulated deficit (49,479) (48,820)
Total stockholders' deficit (3,938) (3,429)
Total liabilities and stockholders' deficit $ 247 $ 734

Source

v3.7.0.1
CONDENSED STATEMENTS OF LOSSES (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating expenses:    
Research and development $ 465 $ 323
General and administrative 460 707
Total operating expenses 925 1,030
Loss from operations (925) (1,030)
Other income (expense):    
Gain on change in fair value of derivative liability 1,683 538
Interest income (expense), net (1,417) 2
Loss before provision for income taxes (659) (490)
Provision for income taxes
Net loss $ (659) $ (490)
Net loss per common share, basic and diluted (in dollars per share) $ (0.45) $ (0.35)
Weighted average shares outstanding (in shares) 1,464,490 1,392,079

Source

v3.7.0.1
CONDENSED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (659) $ (490)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6 5
Stock-based compensation 99 23
Gain on change in fair value of derivative liability (1,683) (538)
Finance cost 1,417
Increase in operating assets:    
Receivable for sale of preferred stock (10)  
Prepaid expenses (20) (2)
Increase in operating liabilities:    
Accounts payable and accrued expenses 144 95
Cash used in operating activities (706) (907)
Cash flows from investing activities:    
Acquisition of office equipment (3)
Cash used in investing activities (3)
Cash flows from financing activities:    
Proceeds from sale of stock and warrants 195
Cash provided by financing activities 195
Net decrease in cash (514) (907)
Cash, beginning of period 547 2,465
Cash, end of period $ 33 $ 1,558

Source